Business News

CBN’s Recapitalisation Drive Will Strengthen Economy, Banks—ACAMB

CBN Ways and Means

By Aduragbemi Omiyale The Association of Corporate and Marketing Communication Professionals of Banks (ACAMB) has affirmed its support for the recapitalisation policy of the Central Bank of Nigeria (CBN) for Nigerian banks. The regulator recently announced new minimum capital requirements for Deposit Money Banks (DMBs), Microfinance Banks (MFBs) and other financial institutions in the country. The CBN said that banks with international operations would be required to increase their capital base from N25 billion to N500 billion, while banks with national banking licences must have at least N200 billion. The lenders were given the end of the first quarter of